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Walmart is expanding its marketplace services as the retailer announced a partnership with StockX to sell pre-verified sneakers, according to Bloomberg.
Starting on September 10, hundreds of items will be available on Walmart’s website and StockX will fulfill and verify the products. The expansion of the partnership is aiming for tens of thousands of products.
As the sneaker industry and aftermarket services continue to expand, the partnership will serve as an expansion for both brands with a new customer base.
.@StockX + @Walmart are joining forces to bring hundreds of pre-verified listings to a wider audience starting September 10 ??? pic.twitter.com/W1zmZ8KpFd
— Snkrs Day (@snkrsday) September 5, 2024
The StockX and Walmart partnership is part of the retailer’s efforts to elevate its offerings while also competing with Amazon and other retail giants. Walmart will expand the assortment on its marketplace of third-party vendors to include pre-owned and collectible products, building on its offering of refurbished electronics, Bloomberg reports.
For StockX, it marks its first third-party platform deal, Chief Executive Officer Scott Cutler said in an interview. The Walmart deal will help StockX reach a new consumer base, including customers who may be unfamiliar with the brand, he said.
As the sneaker resale market continues to thrive, with some estimates projecting it will reach $30 billion by 2030, Walmart’s entry into the space marks a significant step in the company’s evolution and the next era in sneaker’s stake in mainstream culture.
Keep it locked to Snkrs Day on Instagram and the sneaker release dates page to stay on top of the latest news and drops.
